Deciml, a micro-investing platform, has raised $3 million in seed funding led by Jainam Broking, marking Jainam’s first startup investment. The Pune-based company, founded in 2020 by Satyajeet Kunjeer, simplifies investing by rounding up users’ online transactions to the nearest ₹10 and investing the difference into mutual funds.
With this new funding, Deciml plans to expand its user base, enhance its product features, and grow its team. The platform aims to make investing accessible and easy for young Indians. Jainam’s investment aligns with their goal to empower people by making financial markets more accessible through technology.
What is Deciml?
Deciml is a micro-investing platform that helps users invest their spare change from everyday transactions. Whenever a user makes an online payment via card or UPI, the platform automatically rounds up the transaction amount to the nearest ₹10 and invests the difference into mutual funds.
This makes investing easy and accessible for everyone, especially young Indians who may find traditional investing intimidating. Founded in 2020, Deciml aims to simplify investing by integrating it into users’ daily spending habits, helping them build wealth without requiring significant financial commitments.
Why is This Funding Significant?
The $3 million funding raised by Deciml is significant for several reasons. It will enable the platform to expand its user base, enhance its product offerings, and strengthen its team, which is essential for scaling and reaching more users. This funding also serves as a validation of Deciml’s innovative round-up investing model, where spare change from everyday transactions is invested into mutual funds.
Jainam Broking’s investment, with its 20 years of experience in the financial sector, adds credibility and confidence to Deciml’s business approach. Moreover, the funding will help Deciml continue its mission of making investing more accessible, particularly to young, tech-savvy Indians who might find traditional investing intimidating.
The strategic partnership with Jainam Broking brings valuable expertise, helping Deciml navigate the competitive fintech space while fostering financial literacy and empowerment. This investment marks a pivotal moment in Deciml’s growth, positioning it to scale rapidly and drive further innovation in India’s evolving digital investment ecosystem.
How Will the Funds Be Used?
The $3 million in funding will be used by Deciml to accelerate its growth and enhance its platform. The funds will primarily be allocated to expanding its user base, allowing the company to reach a wider audience. Additionally, Deciml plans to use the money to improve its product features, making the platform even more user-friendly and effective for investors.
Another key area for investment is team expansion, which will help the company build the necessary resources to scale rapidly. Overall, the funding will support Deciml’s mission to make investing accessible and effortless for more users, particularly young Indians.
Founders’ Perspective
Deciml was founded in 2020 by Satyajeet Kunjeer, who is focused on making investing accessible and effortless, especially for young Indians. Satyajeet shared his thoughts on the company’s journey and the significance of the funding:
This quote highlights the critical turning point in Deciml’s growth and emphasizes the importance of Jainam Broking’s investment in accelerating their vision and scaling their platform.
Key Takeaways
- Successful Funding: Deciml raised $3 million in a seed round led by Jainam Broking, marking Jainam’s first investment in a startup, which will significantly boost Deciml’s growth prospects.
- Innovative Investment Model: Deciml’s round-up investing platform, which automatically invests spare change from online transactions into mutual funds, simplifies investing for young Indians, making it more accessible and less intimidating.
- Plans for Expansion: The funds will be used to expand Deciml’s user base, improve product features, and grow the team, with a focus on scaling the platform rapidly.
- Strategic Partnership: Jainam Broking’s investment brings valuable financial expertise to Deciml, helping the company strengthen its position in India’s competitive fintech space.
- Market Opportunity: The funding comes at a time when India’s fintech sector is experiencing rapid growth, positioning Deciml to benefit from this trend and further expand its impact.
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Conclusion
Deciml’s recent $3 million funding marks a significant milestone in its journey, positioning the platform for rapid growth and expansion. With plans to enhance its product offerings, broaden its user base, and strengthen its team, Deciml is focused on scaling its innovative round-up investing model to make investing more accessible for young Indians.
By simplifying the process and integrating it into daily transactions, Deciml aims to promote financial literacy and empower users to build wealth effortlessly. With Jainam Broking’s support, Deciml is set to capitalize on India’s growing fintech market, further solidifying its place in the digital investment space.
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